ADB approves $112 million loan to establish Assam Skill University
The Asian Development Bank (ADB) has approved a $112 million loan to strengthen skills education and training through the establishment of the Assam Skill University (ASU). The Loan will create a path for skill development to enhance the productivity and competitiveness of Assam’s economy and industries. An additional $1 million grant from the Japan Fund for Poverty Reduction will support the introduction of technologies for smart campus management, integrated teaching, learning, and career development management.
About the project:
- The project will help develop the ASU’s management and operating systems, business models, and faculty and staff, and support the design and construction of environmentally sustainable and climate-resilient university campus and facilities to ensure efficient and sustainable operations.
- It will also support the design and delivery of industry-aligned and flexible skills education and training programs, including cutting-edge digital skills programs, career development programs and services, and continuing education programs.
Important takeaways for all competitive exams:
- Assam Governor: Jagdish Mukhi;
- Assam Chief Minister: Himanta Biswa Sarma.
Adda247 buys ed-tech platform StudyIQ Education for Rs 150 crore
Edtech platform firm Adda247 has acquired UPSC-focused ed-tech platform StudyIQ Education for $20 million (150 crores) in a cash and stock deal. Speaking on the acquisition, Adda247 founder and CEO Anil Nagar said it’s a strategic acquisition for Adda247. StudyIQ Education has over 11 million subscribers on Youtube and the platform receives close to 100 million views a month, the company claims. The current acquisition will give Adda247 an edge in the UPSC segment.
Some key points about the acquisition:
- By acquiring it, Adda247’s will be able to strengthen its position in the UPSC segment, which has one of the highest ARPUs (average revenue per user) in the test preparation segment.
- In November, Adda247 had secured Rs 20 million as part of a Series B funding round led by private equity firm WestBridge Capital. Operated by Metis Eduventures Pvt Ltd, Adda247 had said it’ll use the money to strengthen its technology platform and product, besides funding senior-level hiring.
- Founded by Anil Nagar and Saurabh Bansal in 2010, Adda247 had acquired YouTube channel Success Ease for an undisclosed amount in 2019.
About StudyIQ
StudyIQ YouTube channel is India’s largest educational Youtube channel in terms of monthly viewership, while it is the second largest in terms of subscribers’ base after Wifistudy. StudyIQ’s gross revenue for 2020-21 stood at Rs 33 crores, growing at over three times as compared to the previous financial year.
SEBI form ‘ALERTs’ committee for early detection of market anomalies
The Securities and Exchange Board of India (SEBI) has set up an Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS) to enhance technological capabilities and explore suitable technology solutions for the early detection of market anomalies. ALeRTS is a 7-member committee headed by Madhabi Puri Buch, a former whole-time member of SEBI and has experts from various technology domains as members.
About the ALeRTS:
- ALeRTS will recommend future roadmaps and improvements in the various ongoing technology projects. It will also guide SEBI in designing and framing requirements for the different in-house systems
- In addition, the committee has also been constituted “to guide SEBI from a domain perspective, in ascertaining the adequacy of SupTech / RegTech tools envisaged/proposed to be used in-house for improving its capabilities,”.
Important takeaways for all competitive exams:
- Securities and Exchange Board of India Founded: 12 April 1992.
- Securities and Exchange Board of India Headquarters: Mumbai.
- Securities and Exchange Board of India Agency executive: Ajay Tyagi.
RBI comes up with PCA framework for large NBFCs
The Reserve Bank of India (RBI) has introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs) with effect from October 2022, putting restrictions on para-banks whenever vital financial metrics dip below the prescribed threshold. This brings them almost on a par with banks in terms of supervision and regulatory reach. The PCA framework for NBFCs comes into effect on October 1 next year on the basis of their financial position on or after March 31.
About the PCA framework:
- The PCA framework will be applicable to All Deposit-Taking NBFCs (NBFCs-D) and All Non-Deposit Taking NBFCs (NBFCs-ND) in the Middle, Upper, and Top Layers. It will put restrictions on para-banks whenever vital financial metrics dip below the prescribed threshold.
- The move will bring NBFCs almost on a par with banks in terms of supervision and regulatory reach. This follows scale-based regulations and revision in non-performing asset norms brought in by the regulator for the sector.
Important takeaways for all competitive exams:
- RBI 25th Governor: Shaktikanta Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.
Bhutan confers PM Modi with its highest civilian award
Bhutan has honoured PM Modi with its highest civilian award, Ngadag Pel gi Khorlo. Bhutan’s Prime Minister Lotay Tshering has announced PM Modi’s name for Bhutan’s highest honour. The honour comes as an appreciation for India’s friendly approach to Bhutan under PM Modi’s governance. During the pandemic, India had extended support to the neighbouring country in the form of vaccines, medicines and other emergency services.
According to PMO Bhutan, ‘Prime Minister of India, Narendra Modi has played an unconditional friendship over the years and has helped immensely during the Coronavirus Pandemic. Before this, the current Prime Minister of India had been accorded the respective top honours of Afghanistan, Saudi Arabia, the UAE, Russia, the Maldives, Palestine and Bahrain.
List of International Awards received by Narendra Modi:
1. Order of Abdulaziz Al Saud (Saudi Arabia)
2. State Order of Ghazi Amir Amanullah Khan (Afghanistan)
3. Grand Collar of the State of Palestine Award (Palestine)
4. Order of Zayed Award (United Arab Emirates)
5. Order of St. Andrew award (Russia)
6. Order of the Distinguished Rule of Nishan Izzuddin (Maldives)
7. Champions of the Earth Award (United Nations Environment Programme)
8. Global Goalkeeper award (Bill and Melinda Gates Foundation)
Important takeaways for all competitive exams:
- Bhutan Capital: Thimphu;
- Bhutan Prime minister: Lotay Tshering;
- Bhutan Currency: Bhutanese ngultrum.
India to raise legal marriage age for women
The proposal to raise the minimum age of marriage for women from 18 to 21 was cleared by the Union Cabinet. Presently, the minimum age of marriage for men is 21 but for women, it is 18. The government will now look to introduce amendments to the Prohibition of Child Marriage Act, Special Marriage Act, and the Hindu Marriage Act to bring the plan into action. This will give a chance to the girls to study more. They will be able to enjoy their independence. They will also get better employment opportunities.”
According to a 2017 United Nations report:
India was struggling to stop child marriages and improve the health of its mothers. The report said as many as 27 per cent of Indian girls were married before they turned 18.
Sunil Gavaskar honoured with SJFI Medal 2021
The Sports Journalists’ Federation of India (SJFI) has decided to honour former Indian Cricketer and cricket commentator Sunil Manohar Gavaskar with its prestigious ‘SJFI Medal 2021’ at SJFI Annual General Meeting (AGM) in Guwahati, Assam. SJFI Medal is the highest honour of SJFI. SJFI was founded on 27th February 1976 at the Eden Gardens, Calcutta (now Kolkata), West Bengal.
Other SJFI Awards:
| Award | Winner |
| SJFI Sportsman of the year 2021 | Neeraj Chopra (Javelin) |
| SJFI Sportswoman of the year 2021 | Mirabai Chanu (Weightlifting) |
| SJFI Team of the Year 2021 | Indian Men’s Hockey team |
| SJFI Parathletes of the year 2021(Men) | Pramod Bhagat (Badminton) and Sumit Antil (Javelin) |
| SJFI Parathletes of the year 2021(Women) | Avani Lekhara (rifle shooter) |
| SJFI Special Recognition Award | Olympic Gold Quest (OGQ) |
Simone Biles named Time Magazine’s 2021 Athlete of the Year
Simone Biles was named Time magazine’s 2021 Athlete of the Year. The world’s most decorated gymnast, a four-time Olympic medalist, was hailed for putting her mental health first when she withdrew from four event finals at the Tokyo Olympics. Despite the setback, the 24-year-old managed to earn a team all-around silver and a bronze in balance beam at the Tokyo Games.
Biles along with hundreds of athletes accused the FBI, USA Gymnastics and the U.S. Olympic and Paralympic Committee for failing to stop the abuse. A month after the Tokyo Olympics, Biles gave an emotional testimony at a US senate hearing into former USA Gymnastics team doctor Larry Nassar sexual abuse scandal.
Adani tie-up agreement with SECI for green power
Adani Green Energy Ltd (AGEL) has signed a purchase agreement with Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power. It is the world’s largest-ever green power purchase agreement (PPA). The agreement is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020. So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6,000 MW of the 8,000 MW awarded in 2020. The company expected to complete the balance of 2000 MW in the coming 2 to 3 months.
Important takeaways for all competitive exams:
- Solar Energy Corporation of India Limited Established: 2011;
- Solar Energy Corporation of India Limited Headquarters: New Delhi, Delhi;
- Solar Energy Corporation of India Limited Chairman: Indu Shekhar Chaturvedi;
- Solar Energy Corporation of India Limited Managing Director: Suman Sharma.
The book ‘Raj Kapoor: The Master at Work’ authored by Rahul Rawail released
Vice President of India, M Venkaiah Naidu has released the book titled ‘Raj Kapoor: The Master At Work’ authored by Rahul Rawail. The book launch event was held at India Habitat Centre in New Delhi, coinciding with Raj Kapoor’s 97th birth anniversary. The vice president described the book as a “labour of love and dedication”.
The essence of the book:
The book also examines how the lessons he learnt under the tutelage of Raj Kapoor carried Rahul Rawail through directing his own blockbuster films including Love Story, Betaab, Arjun and Dacait. Raj Kapoor: The Master at Work offers unique insights into what it took for Raj Kapoor to be an exceptional filmmaker, with his understanding of human emotions, virtues of music and the art of visual storytelling. Within these pages, one sees behind the enigma who lived and breathed cinema, in his before-seen role as a teacher, mentor, parent and guru.
Arvind Kumar joins Software Technology Parks of India as DG
Arvind Kumar has joined as Director General of Software Technology Parks of India. Software Technology Parks of India is an autonomous body under the Ministry of Electronics & Information Technology Government of India. STPI is fuelling the culture of tech entrepreneurship and innovation in the country by launching 25 + Centres of Entrepreneurship in emerging technology domains.
About the Software Technology Parks of India:
Currently, STPI-registered units have reached IT/ITeS/ESDM exports of over Rs. 5 lakh crores. STPI is one of the largest tech incubators in India with an area of approx.13 lakh square feet spread across various Tier 1/2/3 cities. STPI is also assisting in the formulation of India BPO Promotion Scheme 2.0. Further to strengthen the electronics sector, STPI has undertaken rolling out of the Electronics Manufacturing Clusters (EMC 2.0) Scheme.
Important takeaways for all competitive exams:
- Software Technology Parks of India Founded: 1991;
- Parent organisation Software Technology Parks of India: Ministry of Electronics and Information Technology.
TVS Motor and BMW Motorrad tie up to make electric vehicles
India’s TVS Motor Company will develop electric vehicles (EV) with BMW’s motorcycle brand in India, joining a host of Indian automakers that have sought to expand their clean mobility offering. The tie-up comes at a time when new-age start-ups like Ola Electric & Ather are ramping up investment in electric scooters.
Under the extended scope of the partnership, the companies plan to come up with an electric vehicle platform in addition to the existing internal combustion platform for both global and domestic markets. The first product under the enhanced co-operation, an electric model suited for the urban ecosystem, is expected to make its debut in the next 24 months.
Important takeaways for all competitive exams:
- TVS Motor Company CEO: K. N. Radhakrishnan;
- TVS Motor Company Headquarters: Chennai;
- TVS Motor Company Founder: T. V. Sundram Iyengar;
- TVS Motor Company Founded: 1978.
Army Chief Naravane takes charge as Chairman of Chiefs of Staff Committee
Army Chief General M.M. Naravane has assumed the charge as the chairman of the Chiefs of Staff Committee that comprises the three service chiefs. The post fell vacant following the death of Chief of Defence Staff General Bipin Rawat in the Indian Air Force helicopter crash on December 8. General Naravane has been given the charge, as he is the senior-most among the three service chiefs.
IAF Air Chief Marshal V.R. Chaudhari and Navy Chief Admiral R. Hari Kumar had taken over their respective positions on September 30 and November 30. Before the creation of the post of the Chief of Defence Staff, the senior-most among the three service chiefs used to be the chairman of the Chiefs of Staff Committee.
NASA’s Parker Solar Probe enters the Sun’s upper atmosphere
NASA’s Parker Solar Probe has entered the Sun’s upper atmosphere for, first time in history. In 2018, launched the Parker Solar Probe aims to unravel the mysteries of the Sun by travelling closer to it. After three years of launching, Parker has finally arrived in the solar atmosphere. Parker Solar Probe has flown through the Sun’s upper atmosphere for the first time in history – the corona. The probe sampled particles and magnetic fields there.
The new milestone marks one major step for Parker Solar Probe and one giant leap for solar science. Just as landing on the Moon allowed scientists to understand how it was formed, touching the very stuff the Sun is made of will help scientists uncover critical information about our closest star and its influence on the solar system.
Important takeaways for all competitive exams:
- NASA administrator: Bill Nelson;
- Headquarters of NASA: Washington D.C., United States;
- NASA Founded: 1 October 1958.
7-time champion Lewis Hamilton receives knighthood at Windsor Castle
Lewis Hamilton has picked up a new title only days after losing one on the track. The seven-time Formula One champion received a knighthood at Windsor Castle, London. Hamilton gets the honorary title of “Sir” after being knighted by the Prince of Wales for services to motorsports. Three other F1 drivers have been knighted: Jack Brabham, Stirling Moss and Jackie Stewart. Hamilton is the first to be awarded while still competing in the sport.
WhatsApp announces Digital Payments Utsav for 500 villages in India
WhatsApp has announced the Digital Payments Utsav for 500 villages in India. WhatsApp’s Digital Payments Utsav is a pilot program that promotes digital payments to empower individuals and businesses and is meant as a project to further the cause of financial inclusion. The aim is to empower villagers with access to digital payments via the ‘payments on WhatsApp’.
At the Fuel For India 2021 event:
- WhatsApp announced the Digital Payments Utsav – a pilot program that is going to adopt 500 villages in Karnataka and Maharashtra in an effort to “accelerate financial inclusion”.
- Digital Payments Utsav took off on October 15 this year in the Kyathanahalli village in the Mandya district of Karnataka.
- Here on-ground facilitators helped familiarise villagers with various aspects of digital payments including how to sign up for UPI, set up a UPI account, and also told them about the best practices to be safe while using digital payments online.
Important takeaways for all competitive exams:
- WhatsApp Founded: 2009;
- WhatsApp CEO: Will Cathcart;
- WhatsApp Headquarters: Menlo Park, California, United States;
- WhatsApp Acquisition date: 19 February 2014;
- WhatsApp Founders: Jan Koum, Brian Acton;
- WhatsApp Parent organization: Facebook.
Sports Minister Anurag Thakur inaugurates Khelo India Women’s Hockey League
Sports Minister Anurag Singh Thakur formally inaugurated the first-ever national-level Khelo India Women’s Hockey League at Major Dhyan Chand National Stadium in New Delhi. The winner of the Khelo India Women’s Hockey League will get a cash prize of 30 lakhs. In the first phase, total 14 teams will participate in the league and 42 matches will be played from 15 December to 21 December.
The second and third phases will be organized in early next year. The Sports Authority of India and Hockey India are jointly organizing the first-ever national-level Khelo India league. This is the first big event that will be organized at the Major Dhyanchand Stadium after 2015.
